Coinbase is currently hosting its State of Crypto Summit in New York City, showing off a few products it plans to launch in the coming months.
Upcoming products include a credit card created by a partnership with American Express, perpetuals trading, and several developments for the Base network.
What Happened at Coinbase’s Summit?
Coinbase, one of the world’s largest crypto exchanges, has launched two of these annual Summits before. This year, in addition to a suite of prominent guest speakers, the firm is placing a special emphasis on its own product offerings.
It made several bold promises, claiming that it’s going to offer a credit card later this year:
This isn’t Coinbase’s first attempt to do something similar; in 2021, it launched a debit card with mixed results. However, the industry has become very different in the intervening time.
That same year, American Express rejected the idea of a crypto credit card, but it’s evidently changed its tune.
By offering 4% back in Bitcoin with each purchase, American Express will need to make substantial contact with the Web3 space. So far, Coinbase’s Summit announcement hasn’t revealed further details; however, excitement is high.
In addition, the exchange will start offering regulated perpetual futures trading in the United States. Coinbase has offered perpetuals trading in other markets, but bringing it to the US would be a major advancement.
Crypto futures trading has been a lucrative market lately, with Hyperliquid dominating the activity and revenue in this space.
Coinbase teased a few other products at the Summit. The exchange claimed that Shopify was preparing to accept USDC payments on Base, also offering a percentage of returns with every purchase.
Coinbase and Circle have a pre-existing relationship, and with Shopify, they were able to launch a new commerce standard to govern these transactions:
This wasn’t the only Base-specific product on offer at Coinbase’s Summit. In addition to the main company’s CEX capabilities, Base will also host DEX trading.
This would allow users to access a wider range of assets within Coinbase’s app, especially new speculative tokens and meme coins launched daily.
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